Enphase Energy Inc (ENPH)

Debt-to-assets ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	1,293,740	1,196,950	1,201,110	1,200,280	1,199,460	1,198,630	1,197,790	1,196,950	951,594	940,244	929,015	917,873	4,898	256,452	253,174	295,216	102,659	100,978	99,890	65,406
Total assets	US$ in thousands	3,383,010	3,553,940	3,465,880	3,380,850	3,084,280	2,697,840	2,437,110	2,263,280	2,079,260	2,230,160	2,100,660	2,194,200	1,200,100	1,092,340	997,927	1,030,790	713,223	523,669	481,518	319,252
Debt-to-assets ratio		0.38	0.34	0.35	0.36	0.39	0.44	0.49	0.53	0.46	0.42	0.44	0.42	0.00	0.23	0.25	0.29	0.14	0.19	0.21	0.20

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,293,740K ÷ $3,383,010K
= 0.38

The debt-to-assets ratio for Enphase Energy Inc has shown a declining trend over the past eight quarters. It decreased from 0.57 in Q1 2022 to 0.38 in Q4 2023. This indicates that the company has been using less debt in proportion to its assets over the period.

A lower debt-to-assets ratio generally suggests less financial risk as it indicates the company relies less on debt to finance its operations and investments. Enphase Energy Inc's decreasing trend in this ratio could reflect a stronger financial position and better debt management by the company.

Overall, the improving debt-to-assets ratio trend for Enphase Energy Inc is a positive indicator of its financial health and stability.